logo
Share SHARE
FONT-SIZE Plus   Neg

Roche Says Its $51 Per Share Offer For Illumina Is Full And Extremely Attractive

Swiss drugmaker Roche (RHHBY.PK) issued statement regarding its pending offer for Illumina, Inc. (ILMN).

Roche stated that it continues to believe that on the basis of the public information that has been available to the company, its offer price of $51 per share is full, fair and extremely attractive by every conceivable financial metric. Further, to date, Illumina has not provided any quantitative support for their aggressive growth assumptions. Roche also believes that their long term growth expectations are unrealistic and ignore the inherent and significant market and technology risks.

In late January, Roche began a tender offer to buy all shares of Illumina for $44.50 per share in cash. The offer was raised to $51.00 per share in cash on March 29.

Severin Schwan, chief executive officer of Roche Group, said, "As we have said earlier, if Illumina were to engage with us, we would consider any information supporting Illumina's contention that our offer undervalues the company and its prospects. However, because Illumina has refused to enter into negotiations with us, our current analysis is by necessity based solely on publicly available information, and that information does not justify a price in excess of $51 per share. Our goal has always been to enter into a negotiated transaction with Illumina and we firmly believe that our present offer is more than adequate to serve as a basis to begin that negotiation with Illumina."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Alteryx, Inc., a provider of self-service data analytics software, is the latest tech company to go public in March. Alteryx said it has priced its IPO of 9 million shares of its Class A common stock at $14 per share, at the top end of its range of $12 to $14 per share. Dunkin' Donuts is bidding adieu to one of its frozen coffee beverages this summer. However, loyal fans of the decades-old menu staple have not taken kindly to the news. The coffee chain said it will discontinue its popular Coffee Coolatta beverage this summer and instead, introduce the new Frozen Dunkin' Coffee, made with coffee extract, sugar and milk. Canadian pipeline operator Enbridge Inc. said it will cut about 1,000 jobs, or six percent of its workforce, following the completion of its acquisition of Houston-based Spectra Energy Corp. The job cuts will take place across the merged company.
comments powered by Disqus
Follow RTT